Press Releases

National Storage Affiliates Trust Launches Public Offering of Common Shares

GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--
National Storage Affiliates Trust (the "Company") (NYSE: NSA) today
announced that it has commenced an underwritten public offering of
4,500,000 common shares of beneficial interest of the Company. The
Company expects to grant the underwriters a 30-day option to purchase up
to an additional 675,000 common shares.

The Company intends to use the net proceeds from the offering to repay
amounts outstanding under its revolving line of credit and for general
corporate purposes.

Jefferies and Morgan Stanley will act as joint book-running managers for
the offering. The underwriters propose to offer the shares from time to
time in negotiated transactions or otherwise at market prices prevailing
at the time of sale, at prices related to prevailing market prices or at
negotiated prices.

A registration statement relating to these common shares has been
declared effective by the Securities and Exchange Commission ("SEC").
The offering will be made only by means of a preliminary prospectus
supplement and accompanying prospectus. Copies of the preliminary
prospectus supplement and accompanying prospectus related to the
offering can be obtained, when available, by visiting the SEC website at www.sec.gov
or by contacting:

This press release shall not constitute an offer to sell or the
solicitation of any offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.

About National Storage Affiliates Trust

National Storage Affiliates Trust is a Maryland real estate investment
trust focused on the ownership, operation and acquisition of
self-storage properties located within the top 100 metropolitan
statistical areas throughout the United States.

NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release constitute
forward-looking statements as such term is defined in Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, and such statements are intended to be
covered by the safe harbor provided by the same. Forward-looking
statements are subject to substantial risks and uncertainties, many of
which are difficult to predict and are generally beyond the Company's
control. These forward-looking statements include information about
possible or assumed future results of the Company's business, financial
condition, liquidity, results of operations, plans and objectives.
Changes in any circumstances may cause the Company's actual results to
differ significantly from those expressed in any forward-looking
statement. When used in this release, the words "believe," "expect,"
"anticipate," "estimate," "plan," "continue," "intend," "should," "may"
or similar expressions are intended to identify forward-looking
statements. Statements regarding the following subjects, among others,
may be forward-looking: market trends in the Company's industry,
interest rates, the debt and lending markets or the general economy; the
Company's business and investment strategy; and the acquisition of
properties, including the timing of acquisitions. For a further list and
description of such risks and uncertainties, see the Company's
preliminary prospectus supplement dated December 12, 2016 and Annual
Report on Form 10-K filed with the Securities and Exchange Commission on
March 10, 2016, and the other documents incorporated by reference into
the Company's registration statement. The forward-looking statements,
and other risks, uncertainties and factors are based on the Company's
beliefs, assumptions and expectations of its future performance, taking
into account all information currently available to the Company.
Forward-looking statements are not predictions of future events. The
Company disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.

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About NSA

National Storage Affiliates is a self-administered, self-managed real estate investment trust, dedicated to the ownership, operation and acquisition of high quality regional self storage facilities located within high growth markets